Expert: because of sanctions against Russia oil prices soar above $ 200 a barrel
If the West decides to real economic punishment with the trade blockade, oil prices soar above $ 200 a barrel, says a senior economist at Oxford Economics Adam Slater.
the decrease in trade with Russia, which is the second largest oil exporter in the world, will create a shortage of energy supplies, and this will have negative side effects on Europe, and it is not excluded a new world economic crisis, says the economist, whose words bring " News "." in this case, the International prices for oil products have the ability to soar above $ 200 a barrel, and the price of gas will Also grow strongly, " said Slater. For reviews of the economist, If Russia will lose access to Western markets, its energy exports will drop by 80%. The new space will be able to fill in the OPEC countries, but the economic downturn, high energy prices, not to defend yourself. The EU buys 84% of Russian oil and 76% of the gas, but about a quarter of European countries rely entirely on the supply of gas or oil from Russia. Currently Russia is fulfilling its obligations on delivery, despite all the risks associated with transit through politically unstable Ukraine, but, If the delivery will be completed, it can trigger responses of the EU in the form of 3-rd stage of punishment, which will affect whole sectors of Russia's economy, or in the form of specific trading limits." They will further damage the Russian economy. The following steps Russia remains uncertain, but the escalation of the conflict still implies a high risk that will have negative global external effects, for example, due to the impact on world energy markets, " says Slater. Recall that on Thursday the European Commission will announce proposals for action against Russia in the spheres of defense and access to financial markets. on 18 July, the European Union extended the legal basis for the use of restrictive measures of the EU in connection with the situation in Ukraine. The European Council of 17 July adopted a final report on Ukraine, in which, for example, it is reported that the leaders of EU member States asked the European Commission to revise and stop for some time a number of programmes of cooperation with Russia, in addition to cross-border cooperation and programmes of civil society. Also on July 17, the U.S. government has introduced fresh punishment relative to Russian organizations, and among them, Gazprombank and Vnesheconombank, energy organizations Rosneft and NOVATEK, and organizations of the Russian military-industrial complex, including " Almaz-Antey " concern " Kalashnikov ". Punishment USA will affect NGOs " Izhmash ", NGO " Bazalt ", Uralvagonzavod and instrument design Bureau.
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